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20121130
20121130
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news" with scott pelley. >> pelley: good evening. the u.s. economy is looking significantly stronger tonight than it of did just a short while ago. have a look. the government revised its estimate of third quarter growth from 2% to 2.7. that means the economy was growing more than twice as fast in the third quarter as it was in the second when growth was just 1.3%. so, are we turning a corner or is this a one-quarter wonder? we asked anthony mason to find out. >> reporter: business is looking rosy at the internet retailer wine.com. new york general manager chris boone is expecting a strong holiday season. in from thanksgiving on, we've got our running shoes on, and we're running and hustling. >> reporter: wine.com just had a huge third quarter. sales jumped 15%, and the company recently expanded into a new warehouse. >> the old warehouse we had was 15,000 square feet. this current one is 30,000. it's great for us, it's great for business, and i'm happy to ae the growth. >> reporter: across the u.s., economic signals are improving. pending home sales, which track contract signings, ju
join us right now. gloria, guess i'll start with you. does the president have any leverage? >> he has a lot of leverage right now. i mean, if you look back to the debt ceiling in the summer of 2011, you recall the president was accused of negotiating with himself because it was sort of a time of weakness for him. right now, look, joe, he's just won re-election. 67% of the american public according to our polls believes that there should be a deal that contains a combination of spending cuts and tax increases. more than half of the american public says, you know what, we'd like the taxes on the wealthy to go up. so he does have public opinion on his side. just been re-elected. so he feels like, you know, he's got the wind at his back so to speak. >> jessica yellin, when you look at the situation a lot of democrats on capitol hill are suggesting they're ready to go over the fiscal cliff. what's the president saying about that? >> reporter: well, the white house says that that's not something they're looking to do. and they think they can get this done before december 31st. but the presi
probably gives us a bit more context to house speaker john boehner's response to all of this yesterday. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> so, let's not forget here just how close we are to this cliff. cliff day is 32 days away. you might say we're kind of teetering, regardless of what the republicans think, regardless of how loud they may be laughing, the president is awalking. he's taking this pitch on the road, and he is heading as we speak to a suburb in philadelphia to tour a toy factory and give a speech there. but this is not just your average factory. it's not just your average tour. it's not your normal glad-handing here. in fact, the republicans are saying this is just president obama campaigning. they're angry that he's off selling this proposal to the public instead of sitting down at the table with them and negotiating back in washington. it's a great shot, though, to watch marine one take off regardless of how you feel about it. dan lothian gets to watch it's a regular basis. >> reporter:
're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen. the hope is that that would happ
Search Results 0 to 3 of about 4

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